Have you ever taken a child fishing for the first time?
I was visiting my family in Canada last July, and watched with delight as my brother took my 4 year old nephew, Sammy, out for his first fishing experience. (It was quite amusing, to say the least!)
For example, when I asked Sammy what kind of fish he wanted to catch, he replied (with great enthusiasm) “all of them!” When my brother looked through the tackle box to find a suitable lure, Sammy insisted on using a “pretty one”.
And as we strategically scanned the lake, looking for the best fishing spots, Sammy excitedly flipped his small pole over the side of the boat (half the time the hook floating ABOVE the water) and kept watch with a hopeful look. Needless to say, he didn’t catch anything, but he certainly had a lot of fun.
As I watched him, I couldn’t help but think that his excited but haphazard approach to fishing is much like how many of us approach building a business. We often go “fishing” for new prospects without much advance planning or forethought, and (despite our enthusiasm) then come home discouraged, and empty-handed!
Building Your Business Is a Lot Like Fishing!
For example, when I’ve asked my clients what kind of prospects are the best fit for their business, they often tell me (with as much enthusiasm as my nephew) “all of them!”
While your business opportunity and products can certainly help many different kinds of people, you need to know who your MOST ideal prospects are (the exact “fish” you are looking for) or it’s going to be very difficult for you to find them (to locate the specific fishing holes in which they “hang out”). Your ‘shot gun’ approach will take up a lot of your time, and produce mediocre results at best.
That all changes when you stop attempting to sell and sponsor “everyone” and narrow your focus to a “target market”. Entrepreneur.com defines the term “target market” as “a specific group of consumers at which a company aims its products and services” …(the key word here being “specific”)!
When looking for new leads, if you focus your efforts on one (or just a few) super-qualified “target markets,” you will be much more effective. In keeping with the fishing metaphor, the shift would look like this; instead of jumping from pond to stream to lake, attempting to catch ‘anything,” decide instead to focus on catching just one kind of fish (trout?) – then locate the steams teeming with trout and fish only in these spots. With this kind of clarity and focus, you’re going to be much more successful.
Defining Your Target Market – Who’s YOUR Ideal Prospect?
So what kind of prospect is the perfect fit for YOUR business? That can depend on your own personality and background, the kind or product(s) you sell, and how your business opportunity is structured.
Success leaves clues, so often the best place to start is to look around your own company, and make a note of the following:
- What kinds of people are already succeeding in your organization? What is the personal/professional background of the top leaders? (For example – do you see many stay at home mom’s, baby boomers, teachers, corporate professionals, wellness experts succeeding in your business)?
- What kinds of personal qualities/traits do many of these leaders have in common?
- What kinds of people are YOU already naturally attracting into your own team?
- Who do you LOVE to work with – who is a natural fit for you (based on your own professional background – or personal experience)?
- What kinds of people appear to be a great fit both for your products – and your business opportunity?
By asking these questions, common threads will emerge. For example, perhaps some of the most successful leaders in your company are stay at home or working 
moms, who are super motivated to build a business because they want to make a great income AND be home with their kids.
Or perhaps you’ll see many baby boomers are active in your company, both because they love your products and because they are also very motivated to generate extra income for their retirement. You may also see health or wellness professionals who use your products, but also like the idea of having a “plan b” and building a secondary income alongside their current business.
Narrow the Field – Choose Your MOST Ideal Prospects
You should now have a short list of possible target markets, but let’s get even more specific. Take each one through the “litmus test” to see if you can narrow your choices down to just one or two.
1. Is This Kind of Person Already Motivated To Change?
Does this person have an existing problem/issue they are motivated to change (health issue, money problem, lifestyle challenges, etc). You want to find people who have a strong “why” – and who are already looking for the kind of solution that your products or business provides. (It takes too much extra time and work to “educate” people on why they should change. Find the ones who are already aware they have a problem, and are actively looking for a solution)!
2. Does This Market Have Enough Money (And Will They Spend It?)
It’s great to have a motivated prospect, but if he/she doesn’t have money to invest in your product, service or opportunity, you’ll struggle to reach your business goals. There are enough people out there, go for the ones who will spend money for the solutions they want.
3. Are There Enough Prospects in This Market? 
Be sure that the target market you choose is specific – but broad. (For example, if you chose “working moms” as your target market, that is extremely specific, but obviously there are enough “working moms” out there that you could focus only on prospecting in this target market, and never run out of leads – ever)!
4. Can You Reach This Market Easily?
Ideally, you also want to choose a target market that you can connect with easily – hopefully in “large groups”. What kinds of clubs or groups might this prospect belong to (networking, business, social, professional associations)? What conferences or tradeshows might she attend?
Do a search on Facebook, Twitter and Linked In to see if you can find groups, pages or forums where your target market is already “hanging out” (making it easier for you to connect with many of them at once). You can do a search on the term “stay at home mom”, “working mom”, “baby boomer,” “corporate executives,” “teachers”, “chiropractors” etc on any of these sites to find groups to which they already belong.
How to Find Hundreds of Super- Qualified Leads – Locally and On-Line
Once you work through this “litmus test” – you’ll be able to discover the exact kind of prospect who is perfect for your business – someone who is motivated, qualified and will be a great new customer or business builder. The next step is to create a simple plan so you can find and build relationships with as many of these prospects as possible (and have a system that converts them into new customers or business builders).
Stay tuned for my next article, where you’ll learn how to locate all the best ‘fishing holes” or places to find super-qualified leads, both locally and on-line.
If you already have a target market – please share what it is, and how narrowing your focus is working for you!
Questions or comments – I’d love to hear them. Please post below and click on the buttons to share this with your team.
